Danang clamps down on stagnant coastal projects
Danang authorities are tightening control over coastal projects and will revoke investment licenses on slow or stalled projects.
According to Nguyen Thanh Tien, deputy office manager of Danang People’s Committee, the city currently has 50 coastal projects, including 13 foreign-invested ones. Among those, eight have been underway but have barely progressed; eight others have been granted with land and 16 projects have not yet been started.
To date, up to 14 coastal projects in Danang have been given two-year extensions. However, municipal authorities have requested their investors to pay extra land taxes for the extension.
The investors also required to pledge to speed up their project implementation after the extension period, if not, the projects will have their investment licenses revoked, Tien emphasised.
The projects were allowed to be located at prime locations along the beach and their developers held lavish groundbreaking ceremonies, but after which they did almost nothing with construction.
These stagnant projects have blocked beach access in Danang, which has deeply angered local residents.
According to Nguyen Thanh Tien, deputy office manager of Danang People’s Committee, the city currently has 50 coastal projects, including 13 foreign-invested ones. Among those, eight have been underway but have barely progressed; eight others have been granted with land and 16 projects have not yet been started.
A coastal project in Danang City left idle for many years
To date, up to 14 coastal projects in Danang have been given two-year extensions. However, municipal authorities have requested their investors to pay extra land taxes for the extension.
The investors also required to pledge to speed up their project implementation after the extension period, if not, the projects will have their investment licenses revoked, Tien emphasised.
The projects were allowed to be located at prime locations along the beach and their developers held lavish groundbreaking ceremonies, but after which they did almost nothing with construction.
These stagnant projects have blocked beach access in Danang, which has deeply angered local residents.
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